Hybrid Work ‒ The New "Must Have" Talent Retention Perk
Updated: May 12, 2022
Written by: Lassi Albin, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Oh, you work from home? Has it been so challenging to find a real office job? We do not need to go back too much in time and working from home was still seen as a Tier 2 option for the ones who could not cut it. And welcome to the year 2022!
Whereas some professions understandably require office presence, in most part working from home and hybrid working has become a competitive advantage and a differentiation point for companies recruiting talent.
Here is what a study from Zoom has to say:
“To meet these employees’ needs, organizations must support flexible work models. By allowing employees to choose whether they come into the office or attend activities virtually, businesses can give employees more autonomy in how they structure their workweek, helping to improve productivity and create a better work-life balance as a result. “
Yeap, no more Tier 2 working from home but a pandemic-created new norm that companies need to comply to. Unconsciously, employees were graving for flexibility in the past, but the work system was built around physical offices. We did not think that hybrid was going to be an available option, let alone something that would be considered a perk. And now, companies need to draw their talent acquisition and retention strategies again, to reflect talent demand and supply, but also consider these “new perks” as part of the attractive offer. The new differentiative job description will highlight: “Base salary + bonus + 40% hybrid”.
The same Zoom study reveals the following:
65% of respondents who have been working from home over the past year said that a hybrid work environment was their ideal work model.
20% of all respondents would prefer to work fully from home.
15% of all respondents would prefer to work fully from the office.
Now, what does this mean for corporates, employer branding, and talent acquisition strategies? Quite a bit. In the extreme cases that I have heard through my coaching clients, companies are ruling that their employees need to return 100% to office location work.
Yes, of course, one might take the viewpoint that the employer is the feeding hand and they get to set the rules. While this is fully true, it is the demand and supply of the talent on the market that ultimately sets the rules. The environment and rules have changed, hybrid work is considered as a perk and an attraction point to join a company.
We were all given the perk by default, and, just like a salary raise that we benefit from, we are not eager or willing to give it away. We can already see the movement in the market where talent is seriously considering switching companies due to these new perks. Given that 65% of talent appreciates hybrid work and that one company requires 100% office presence and the competitor markets a hybrid setup, the carrot for switching is big and bright orange.
And for the companies who are insisting on full office presence in the future, you will be attracting more of the candidates on the 15% pool who prefer to work fully from the office. Just make sure that this is the blend of talent and personalities that you are looking for to reach your growth and business goals.
Regards from my Madrid home office! Proud to be part of the 65%.
“Base salary + bonus + 40% hybrid”
Lassi Albin, Executive Contributor Brainz Magazine
Lassi Albin, MBA, ICF-PCC, is a career performance coach with 2.500+ hours coached with international talent representing 50+ nationalities. He has a strong track record in coaching mid/senior management level corporate clients and top MBA students, covering topics from career management, performance optimization to communication skills. His previous work experience includes global corporate relations, tech business development, headhunting, and leading global supply chain projects for fortune 500 and mid-sized corporations. He is the creator of on-demand programs "How to advance your career with your current company" and "The complete MBA job search program" and provides career performance tips through his Youtube channel @lassialbin.
